Is What You Believe Impacting How You Make Money?

Is What You Believe Impacting How You Make Money?

There’s something we all want to believe in: that there is a secret recipe on how to make money.  And more importantly, that some people have this recipe hidden in their wallets, some people can teach it to us, and some people are just a few ingredients short.

In today’s information age we are surrounded by information.  Bombarded daily by truths, half-truths, misinformation, and lies, and it isn’t always easy to identify one from the other.  So is there really a recipe on how to make money or is this a fantasy we want to believe?  Are you letting what you believe impact how you make money?

Beliefs create attitudes.  Attitudes lead to our motivations.  Motivations impact our bottom line.

Here’s an example: A side effect of what we believe is that many business owners become uncomfortable when it comes time to ASK for the sale (to close the deal which is ultimately how to make money). They have dealt with pushy salesmen and they don’t want to be one.  The belief that “all salespeople are pushy” creates an overly-modest attitude which under-motivates and is not the way to make money.  This is the attitude of “if they really want it, they’ll buy it on their own” or “the product/service sells itself” (have you heard that one before??).  If you have fallen into this pit, start practicing the “ask” (writing a script will get you on your way) and then practice, practice, practice.  Don’t you believe that people need and will benefit from your product or service? Won’t they be pleased with it? Well then, ask them if they want to buy it! If you don’t, your competitors will.

Many of our beliefs come from trusting external sources on how to make money.  Take a look at what you believe and why.  Did this information come from a credible, knowledgeable source?  Does the source have a hidden purpose or motivation? This is something that can be very important for your customers as well.  Are you credible?  Knowledgeable?  Not all marketing is done with integrity and it has done a great deal of damage to business owners who work very hard to run legitimate businesses, provide quality services, and meet the needs of their customers.  Your customers don’t know who can be trusted.  It is the primary reason people do business with people – people they know, like, and trust.  What do your customers believe?  If you don’t know, ASK THEM and be that person they can trust.

Another point for you as a business owner is that when you start or grow your business, you can find yourself in unfamiliar waters learning how to make money, manage finances, and earn customer loyalty and build relations, which can cause you to be particularly vulnerable to those with a deliberate intention to have you believe something that is not true. Be sure when you are looking for services for your business that you do some research.  Get some references.  Look at their website.  Weigh the cost against your need and the value.  Don’t pay in full up front before services are rendered.  Don’t make important choices based merely on something someone said. You want to verify the background and experience of the person who is making the sale to you.  I always have business owners tell me they became a corporation because their brother-in-law told them it was a “good idea.” And your brother-in-law is qualified because…?  (Read “Should My Business Become a Corporation” here.) Your belief in someone as a valuable reference could once again impact how you make money (or how you waste money).

The beliefs that come from within, from our sense of self, can be some of the hardest to overcome and yes, these have a huge impact on our bottom line.  A lot of business owners don’t believe that they will be a success.  That they don’t deserve success or that most businesses fail – yikes, just not true (some do of course but don’t let that be you – get the training and help you need to succeed).  Running a business and making money with it takes a balance of marketing, operations, financial management, and customer care, but do not dismiss the impact of the emotional components we all have – on yourself and on your customers. Erroneous beliefs will hamper relationship building and how you make money.

Some of what we believe we learned very, very early in life. What we believe comes from our mothers and fathers, and grandfathers and grandmothers. They taught us how the world works; however, it is apparent that training to be an entrepreneur is rare unless you come from an entrepreneurial family.  This means that much of what you have learned and/or believe may not be true when it is applied to having a business and how to make money. What is true? That you define what success is for you and that YOU can have a business you love.

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